25 and 30 Year Term Life Insurance Disappearing?
Not likely, but today ING Reliastar said they we discontinuing sales of the 25 and 30 year term products effective at the end of July. Probably the biggest impact this will have will be all of the mega agencies that have glommed on to ING because of the juicy contracts and bonuses offered. This isn’t ...read more
Backdating Life Insurance Can Save Money, But It Can’t Fix Stupid!
If you’re in your 30′s life insurance backdating is not an issue that you probably need to know about or even consider simply because, at your age, the cost of insurance doesn’t change much, if any, from year to year as you get older. Not so when you’re talking about vintage over 50 life insurance ...read more
Is Wealth Built Through Foot Dragging and Timidity?
In a post yesterday I insinuated that we may be entering the greatest two years in history for estate wealth building, estate wealth protection and wealth transfer. That statement still stands, but…. I asked Kevin Cox with Lincoln Financial to review the post in relation to a couple of articles that I’ve been asked to ...read more
The Sub Prime Mortgage Life Insurance Equivelant!
When all of the sub prime mortgages started going south life as we knew it changed, big time. The American dream became the good old days in just a matter of months. I wonder if someone had shouted loud enough or provided disclaimers scary enough before the loans if we could have averted at least ...read more
The Ups And Downs Of Term/UL!
Genworth Life and Annuity recently unveiled its’ new “Term/UL” product, a term life insurance policy in a lot of ways that seems to have some advantages and disadvantages for consumers and for Genworth. How is it the same as a traditional term insurance policy? A quick glance would lead you to believe that there are ...read more
Life Insurance For Dummies, Or By Dummies, Or….
“If you need life insurance for more than 20 years, choose whole life; for 10 or fewer years, choose term life. For the time in between, ask a licensed professional to review your situation.” This patently ridiculous advice came from an article titled Term vs Whole Life”, I read recently by someone is most definitely ...read more
Banner Life Did What?
A week or so ago an associate called to tell me that Banner Life had a new no lapse guarantee UL that was going to stir things up. Better guarantees! Better prices! Better underwriting! I had my first opportunity to test it today. I had a lady contact me about a policy that her father ...read more
Is Common Sense Making A Comeback?
Of course that questions begs another question. Has common sense ever been a standard of life insurance underwriting? The real answer is yes. Absolutely yes. Before the big changes that came with the shrinking number of reinsurance companies and before we were traumatized as a nation financially…..back in the good old days about three years ...read more
Is Anyone Bucking The Current Industry Trend?
2/3 of 2009 have slipped by and there is just no denying anymore that the industry trend for external guarantee life insurance policies such as term insurance and universal life with a no lapse guarantee has changed. Term insurance has been going down in price and extending to longer term guarantees for the past 15 ...read more
Term Insurance Versus Universal Life Insurance!
How refreshing to not hear Term vs Whole Life. The question is how to decide which product is appropriate for your family protection. A simple rule of thumb would go something like this. If you can determine (approximately) the point in the future when you won’t need the coverage then you have a term insurance ...read more
